The Bank of New York Mellon Corporation (NYSE:BK) Receives $131.92 Consensus PT from Brokerages

The Bank of New York Mellon Corporation (NYSE:BK) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $131.9167.

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Royal Bank Of Canada boosted their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Weiss Ratings lowered Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 13th. TD Cowen increased their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Finally, Morgan Stanley lifted their price target on Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th.

Institutional Trading of Bank of New York Mellon

Several hedge funds have recently modified their holdings of BK. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $220,000. Sivia Capital Partners LLC boosted its stake in Bank of New York Mellon by 36.6% in the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after acquiring an additional 909 shares in the last quarter. Ignite Planners LLC purchased a new position in Bank of New York Mellon in the second quarter worth $240,000. Y Intercept Hong Kong Ltd grew its holdings in Bank of New York Mellon by 62.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 15,092 shares of the bank’s stock worth $1,375,000 after purchasing an additional 5,818 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Bank of New York Mellon during the second quarter worth $201,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

BK stock opened at $115.22 on Tuesday. Bank of New York Mellon has a 1-year low of $70.46 and a 1-year high of $128.76. The business has a 50-day moving average price of $119.69 and a 200 day moving average price of $112.74. The company has a market capitalization of $79.15 billion, a P/E ratio of 15.55, a PEG ratio of 1.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion for the quarter. As a group, equities research analysts forecast that Bank of New York Mellon will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s payout ratio is 28.61%.

About Bank of New York Mellon

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.